Studenac has reduced the number of stores set for closure as part of its restructuring. A revised, final list of locations slated for closure has been published on a dedicated website set up to inform creditors and business partners of the pre-bankruptcy proceedings, and the new list covers 79 stores. This is 25 fewer stores than the initial announcement, when the company stated it would reduce its retail network by 104 stores.
The Studenac network now comprises 1,190 stores. The company previously stated that the closure decisions were based on an analysis of business viability and the performance of individual stores, as well as their role in the future structure of the retail network.
According to the new list, the highest number of store closures is in the city of Zagreb, with 12 stores. 10 stores are closing in the Sisak-Moslavina and Split-Dalmatia counties. In the Primorje-Gorski Kotar county, eight Studenac stores are closing, mostly in Rijeka, with one in Krk. In the Dubrovnik-Neretva county, three stores are closing, and two in the Istria county. The only county where Studenac, according to the current list, does not plan to close a store is Lika-Senj.
The court in Split opened pre-bankruptcy proceedings for Studenac on 29 September, which has unlocked the company's accounts. Claims for creditors are currently being submitted, with a deadline of 28 October. The company's website, studenac.restructuring.hr, also provides projected timelines for the proceedings.
The company expects that the hearing on the report, where the court verifies accepted and disputed claims, could take place as early as mid-February. The deadline for voting on the pre-bankruptcy agreement is expected in April or May.
